IOSG Founding Partner: Listing is no longer a rising tide that lifts all boats, but an early exit opportunity for initial holders

BlockBeats News, June 4th, IOSG Founding Partner Jocy stated on social media that the team has compiled the listing data of six major Tier-1 exchanges and Binance Perp from 2026 to the present, covering 207 listing records and 92 unique tokens. The data shows that none of the exchanges have recorded a positive return on average 30 days after listing. Jocy believes that in this bear market, a new listing no longer implies a general price increase but has become more of an exit opportunity for early holders, including the project team, institutions, and early investors.

However, Jocy mentioned that the data also reveals a highly structured listing transmission chain: Coinbase and Bybit are responsible for the early price discovery, Binance Perp validates liquidity within a few days, Binance spot usually confirms after a pullback, and Korean exchanges systematically act as the endpoint for high-level acquisition. A token typically goes from its initial listing to a Korean exchange in just over 20 days, completing a full price cycle.

Jocy stated that for the same token in the same market environment, the difference in returns 14 days later can reach 4.5 percentage points solely due to the choice of exchange and entry timing. Jocy believes that in 2026, "where to list" is more critical than "what to list" in determining trading outcomes.